The real estate market is changing and as a result, new forms of investment are emerging, such as real estate crowdfunding, a new formula based on the collaborative economy to invest in housing without needing a large capital contribution. Even professions such as `Property Manager´ have emerged due to the great demand for rentals that is taking place in our country. Do you have a home that you would like to rent? At mortgages.com we tell you what a Property Manager is and how they could help you rent your home.
What is a Property Manager
Given this new reality in which leasing is gaining importance and is a good option for investing, a new and very interesting job position has emerged for those who want to rent several properties without having to invest time or worries in it.
Property Managers, generally professionals between 35 and 40 years old, with university studies and extensive knowledge of the real estate market and the regulations that govern it, are property managers who are responsible for providing services to homeowners who want to rent out their second home.
This professional receives the keys from the owners and takes care of all the procedures involved in renting a property. Among other things, he is responsible for showing the apartment to potential tenants, resolving their complaints, drafting and registering contracts, cleaning and preparing the property for rent and even managing any repairs that need to be carried out in the different rooms of the house.
Although this is a well-established position in other European countries, the limited tradition of renting in Spain has made this job position something totally innovative and emerging, which concentrates its activity in the large Spanish cities, such as Madrid, Bilbao or Barcelona, and their metropolitan areas.
This is a job that requires a lot of dedication but also brings high benefits. In most cases, the property manager is the one who sets the price of the property and agrees a commission – fixed or percentage – with the owner. However, as their work is not yet fully integrated into our daily lives, there are some owners who prefer to do it the other way around: being the ones who set the rent and agree on the fees of the 'Property Manager'.
What is clear is that these professionals are here to stay and will be part of the future of the real estate sector.
And you? Would you hire their services?
